Financing for Small Business (Wells Fargo)
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Wells Fargo SBA Business Loans Dave Phillips Business Development Officer As of September 1, 2011 © 2009 Wells Fargo Bank, N.A. All rights reserved. For public use.
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Presented by Wells Fargo for SWaMFest VII.
Transcript of Financing for Small Business (Wells Fargo)
- 1. Wells Fargo SBA Business Loans Dave Phillips Business Development Officer As of September 1, 2011 2009 Wells Fargo Bank, N.A. All rights reserved.For public use.
2. Small Business Environment
- A tougher economy for small businesses
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- Financial results and cash-flow are strained
- Businesses that are ready to grow may still need or want to conserve capital and preserve cash-flow
- Limited financing options
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- Banks have tighter credit standards
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- Typical bank loans require high down-payments
- An essential time to have sound financial advice
- SBA financing can be a viable financing solution
3. Overview of SBA Loans
- SBA 7(a) Flagship Program
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- Loan Sizes up to $5MM
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- Utilized for many business purposes including:
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- Real estate purchase, construction and refinance
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- Business acquisition / partner buy-out
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- Equipment purchase, expansion and start-up financing
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- Combination of all with one loan
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- SBA 504 Real Estate Program
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- Loan Sizes up to $9MM; Project Sizes up to $12MM
- Size limitations most businesses qualify
- For-Profit business only
4. SBA Program Qualifiers
- Size of Business
- Retail - $6-8MM annual sales
- Distribution 100 or less employees
- Manufacturing 500 or less employees
- SBA regulation has increased size eligibility to